Planning for the transaction of your life
The exit of a founder or owner from the family business deserves to be intentional and well planned.
In Family Business Magazine, Javier Romero, Wealth Strategies Advisor and Head of Business Owner Planning, Planning Center of Excellence, Bank of America Private Bank shares insights that business owners should consider as they prepare to sell their business, including:
- Integrate business and estate planning decisions.
- Start preparing early.
- Know what you are selling: assets or stock?
- Plan your liquidity event, starting with an understanding of cash flow.
- Assemble your team of advisors and set a big table.
